1700 Tremain St - Apartments FOR SALE


Columbia, SC 29204
$1,200,000 USD
843-952-2267
1700 Tremain St, Columbia, SC for Sale
$1,200,000 USD
Apartments - FOR SALE
1/8
null | 6.03% Cap Rate

1700 Tremain St
Columbia, SC 29204


HIGHLIGHTS

  • Extensive Property Upgrades, Including New Roofing, Plumbing, Electrical Panels, and Heating Systems, Minimize Future Capital Expenditures
  • Stable Operating Costs with Tenants Handling Electric and Optional Internet, While the Owner Manages Water, Trash, and Sewer Expenses
  • Renovations Completed Between 2021 and 2023 have Modernized the Property, Attracting Quality Tenants and Reducing Maintenance Requirements
  • Prime Location in a Thriving Rental Market with a Robust Economy Ensures Consistent Demand

OVERVIEW

Marcus & Millichap is pleased to present Tremain Street Apartments, a 12-unit multifamily property in Columbia, South Carolina. This turnkey asset has been extensively upgraded, offering substantial long-term value. Tenants pay for electric and optional internet, while the owner is responsible for water, trash, and sewer expenses. Units A and B feature central heating and cooling, while Units C through L have new gas heaters and two window AC units each, ensuring efficient climate control. Heaters, maintained by Cool Care Heating and Air, are rarely used but meet code compliance. Significant infrastructure upgrades include a new main plumbing line with individual shut-off valves, partial or complete re-piping in some units, and new electric panels with permits. Outdated wiring, outlets, and receptacles have been replaced. The roof, replaced in 2022 with 50-year shingles, ensures long-term durability. Windows were updated during renovations from 2021 to 2023. Additionally, the property does not currently have Section 8 tenants, offering flexibility in tenant selection. Columbia, South Carolina, is a growing metropolitan area known for its strong economy, which is anchored by government, healthcare, education, and military sectors. The city benefits from a diverse workforce and proximity to the University of South Carolina, Fort Jackson, and a vibrant downtown scene. The demand for rental housing remains high, driven by population growth and limited housing supply, positioning Tremain Street Apartments as a prime investment opportunity.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$167 USD /SF

# OF UNITS

12

PRICE/UNIT

$100,000

CAP RATE

6.03%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tremain Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,572 SF

ZONING

RG-1

APN/PARCEL ID

11511-11-16

ASK ABOUT THIS PROPERTY

William GravesMarcus & MillichapMore Info
843-952-2267

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William GravesMarcus & MillichapMore Info
843-952-2267

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.